Tuesday, September 7, 2010

Church Foreclosures | LoanSafe.org: "According to the U.S. Census, spending on construction of houses of worship had almost doubled form $3.8 billion in 1997 to $6.2 billion in 2007. Now, experts claim that they are seeing more stress in churches than they have in modern history. A review of foreclosure filings in the Thomson Reuters Westlaw legal database shows proceedings against American churches have almost tripled since December of 2007, when the crisis had first began.

Like struggling homeowners who are suffering , this may also be the great church depression.

It is a sad truth, but foreclosures do not not discriminate. It doesn’t matter if you’re an every day Joe, sinning drunkard or preaching pastor. Simply put, if you don’t pay that mortgage, you will lose your property. What is law is law and what is morally wrong has proven to be a mute point ever since mortgages were invented back in the medieval days. Yes, they are that old."

READ full article by clicking on title link at top of page.

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